This
procedure is structured so that communication with the Banking Information
System always takes place through interface modules, in order to avoid any need
of data or processes duplication within the different procedure divisions.
The
daily processing of data allows to always obtain an updated tax status and
to accurately elaborate queries on average tax price composition.
The
cardinal points
the
procedure is founded upon are as follows:
-
Unified
management of Client's tax status (at taxpayer number level);
-
Introduction
of three different tax regimes
(administrative, managed, ordinary or declaratory);
-
Management
of tax options chosen by the Client;
-
Management
of transaction from one tax regime to another;
-
Establishment
of prices of reference for Capital gain/loss calculation;
-
Certification
of Capital gains/losses in case of account's tranfer or closing;
-
Management
of investor's capital loss consolidated with other Institutes;
-
Differentiated
tax handling for qualified holding;
-
Taxation
management on ETF ;
-
Monitoring
of foreign exchange accounts for submission of currency sales to ordinary regime;
-
Management
of price adjustments following operations on capital
-
Capital
gain calculation on quoted and unquoted derivatives
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The
tax situation is summarized by tax account which can
include in itself various securities dossiers, whose results offset one
another in order to determine only one taxation for each taxpayer number.
It
is kept track of every single movement and to its related
impact on client's Capital gain/loss.
Numerous
functions of inquiry and reporting are present to query and manage a
client's tax position:
-
Tax
account management
-
Tax
account movements
-
Foreign
exhange accounts management
-
Reports
on average values
-
Tax
status reporting of administrative, ordinary and Management of
Customers' Securities Portfolio regimes
-
Simulation
of Capital Gain/Loss performance
-
Detailed
Capital Gain/Loss
-
Tax
charges details
-
Summary
of Capital Gain/Loss of Management of customers' securities portfolio
-
Summary
reporting of tax accounts
-
Simulation
reporting of Capital Gain/Loss to be recorded
Within
this product special data extractors have been created in order to comply to regulations
concerning notifications as well as taxation obligations and clients
information notes.
-
Submission
of income tax returns
-
Certification
of Capital revenues
on ETF
-
Tax
charges for administrated regimes
-
Withholding
calculation of Management of customers' securities portfolio interests
on equities higher than 5%
-
Tax
charges on managed regime
-
Reports
on Capital Gain due
- Generation
of tax statement of account
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